The Wall Street Journal: Facebook, Google Aren’t Tech Stocks? What That Means for Investors
July 1, 2018
Chris Cook, president and CEO of investment adviser Beacon Capital Management, said he nearly pulled his clients’ assets out of Vanguard’s telecom exchange-traded fund earlier this year because the firm was facing liquidity issues when trying to trade large blocks of shares. Beacon manages $3 billion in assets, the vast majority in ETFs tracking the 11 S&P 500 sectors.
“It wasn’t a diversified sector, and that’s why we buy ETFs and invest at the sector level,” he